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01/09/2017

RO - New Regulation on Securities Lending in Romania

On 19 July 2017, the Financial Supervisory Authority (FSA) has approved Regulation 5/2017 that amends and supplements Regulation 32/2006 on financial investment services and Regulation 5/2010 on the use of global accounts.

On 19 July 2017, the Financial Supervisory Authority (FSA) has approved Regulation 5/2017 that amends and supplements Regulation 32/2006 on financial investment services and Regulation 5/2010 on the use of global accounts. The new regulation will enter into force following its publication in the Official Gazette. This regulation clarifies the responsibilities of local custodians when processing securities lending instructions and the reporting requirements for securities lending by foreign intermediaries who are not members of the Romanian CSD. In such cases, reporting to the FSA and CSD will be made by the local depositaries on behalf of their clients.